Feb
03

Barclays Agrees to Offload Derivatives Contracts to JPMorgan

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  • Bank accelerating disposals of unwanted assets under new CEO
  • Portfolio consists mainly of rate swaps, person familiar says

Barclays Plc agreed to transfer a portfolio of derivatives contracts to JPMorgan Chase & Co., as the U.K.’s second-largest bank speeds up the sale of unwanted assets to reduce its capital requirements.

The portfolio consists mainly of interest-rate swaps, many of which are backed by collateral that will transfer to JPMorgan, according to a person with knowledge of the terms of the deal, who asked not to be identified because the information isn’t public. Rates swaps are usually classified as less risky and capital consumptive than equity or credit derivatives…

Barclays Agrees to Offload Derivatives Contracts to JPMorgan

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